Resumen: In this dissertation, a comparison between companies under Public Private Partnerships of shadow toll has been made among projects developed in Spain and the UK. A deep analysis is shown to better understand the implementation of shadow toll mechanism which is becoming globally popular nowadays, commonly applied to the construction and operating of roads. Through this study, the past and current performance of these concessionaires, as well as the private sources of finance compared to the public ones, have been analysed by country. This, joint to a complete characterisation of them serve to build a worthwhile comparison. The findings of this study support the hidden motives recent studies pointed out about the concept “Value for Money” applied in the UK but not in the case of Spain, which focus its purpose on deferring the impact on public budgets. As a conclusion, the latter country has still a long way to go in order to apply this mechanism with the aim to contribute to the welfare state, following the leader.