This article proposes to identify the corporate governance system characteristics of a limited group of public-private companies which operate in the local public services sector and are quoted on the Stock Exchange. The study's objective is to analyze the common tendencies and possible differences in the systems of governance adopted, with particular reference to the structure of capital, to the system of assignment and execution of management functions, and to the mechanisms of monitoring and managing information systems. The empirical analysis was conducted on the governance systems of quoted local public service companies via comparative analysis of data gathered from company Web sites and from official documentation available from CONSOB and Borsa Italiana SpA. The governance systems of the companies analysed, all structured according to ”traditional” models of administration and control, seem to guarantee a high degree of transparency. This may be the reason for which, in spite of the central position of the public authorities within the company structure, the participation of capital of local utilities is valued as an appealing opportunity by private partners.