State Grid said to be in talks to buy Brazil power network stake

State Grid Corp of China, the world's largest utility company, is in talks to buy a stake in Brazilian power distributor CPFL Energia SA, according to people with knowledge of the matter.

Government-owned State Grid is in discussions to purchase some or all of Camargo Correa SA's holding in CPFL, one of the people said, asking not to be identified, as the information is private.

Camargo Correa owns about 23.6 percent of the company, according to CPFL's website. Based on CPFL's market value of about 20.8 billion reais ($6.2 billion), the entire stake could be valued at about $1.5 billion, not including any premium paid by the acquirer.