Iberdrola to fight Spanish windfall tax in courts

Iberdrola will launch a legal challenge against a “discriminatory” windfall tax imposed by Madrid on Spain’s largest energy companies, following in the footsteps of banks that are fighting a similar levy in the courts.

Ignacio Galán, Iberdrola chair, said its “legal department is already taking action to defend the interests of shareholders” as the company prepares to appeal against the tax this week at Spain’s National…