Let be given a graph G = (V, E) whose edge set is partitioned into a set R of red edges and a set B of blue edges, and assume that red edges are weighted and contain a spanning tree of G. Then, the Bilevel Minimum Spanning Tree Problem (BMSTP) is that of pricing (i.e., weighting) the blue edges in such a way that the total weight of the blue edges selected in a minimum spanning tree of the resulting graph is maximized. In this paper we present different mathematical formulations for the BMSTP based on the properties of the Minimum Spanning Tree Problem and the bilevel optimization. We establish a theoretical and empirical comparison between these new formulations and we also provide reinforcements that together with a proper formulation are able to solve medium to big size instances random instances. We also test our models in instances already existing in the literature.