State Grid mulls purchase of Eletrobras subsidiaries   

Chinese state-owned enterprise State Grid Corp. of China is considering buying six electricity distribution subsidiaries from Brazilian state-owned electricity company Eletrobras, Reuters reports.

The news agency quotes State Grid Vice-president of Operations in Brazil Ramon Haddad as saying his company is considering the purchase because it is committed to Brazil in the long run.

Eletrobras intends to sell the six distribution subsidiaries this year, while the Brazilian government has said it wishes to sell Eletrobras as a whole eventually, Reuters says.