China's State Grid Corporation is about to complete the full control of CPFL Energy, Brazil's largest private power company. State Grid currently owns 94.76% of CPFL Energy and is acquiring approximately 5% of the remaining shares of the company and all the shares of the company's new energy subsidiary. After full control, the State Grid Corporation of China plans to delist CPFL from the stock exchanges in Sao Paulo, Brazil and New York. However, the process has encountered some resistance so far. Reuters reported on February 24 that the Brazilian Securities and Exchange Commission (CVM) believes that China State Grid quoted too low for the remaining shares of CPFL New Energy, a unit of CPFL Energy, infringing the interests of the other minority shareholders of the company. China's State Grid quoted R$ 12.20 per share (about 23.87 RMB yuan), the proposed price of the Brazilian Securities and Exchange Commission is R$ 16.69 (about 32.65 RMB yuan). The calculation of Brazilian financial website VALOR shows that the price increase per share means that the Chinese group will need to pay an additional R$ 1 billion (about RMB 1,956 million) to complete the transaction. China State Grid Group's Brazilian subsidiary plans to appeal CVM's decision. Interestingly, State Grid has nearly 95% of the shares held, why does it want to fully control it? In contrast, Japanese companies often do not account for the bulk of the share of foreign investment. They pay more attention to the investment chain and strengthen management to improve their business relations with the local. Blind pursuit of holding may cause others to accuse China of being a "threat".