The piece is described by Turibio Santos in his book Heitor Villa Lobos and the guitar as a homage to Bach - and the second section certainly is..
I just think there is a bit of Django Reinhardt in there particularly in the chords and arpeggios of the first section.
Villa Lobos was in Paris in the late 1920's - I think - its inconceivable to think that he didn't hear Django .. Anyway I like to think he did .. This prelude is played on the Alhambra guitar I use for teaching and Robert re-built with a new top and some interesting hollowed out strut arrangements - making it very, very light .