Continental AG, China Unicom set up transport systems venture

FRANKFURT, April 19 (Reuters) - German automotive supplier

Continental AG and a unit of China Unicom

have agreed to set up a joint venture in China to offer

intelligent transport systems, such as vehicle data services and

connected vehicle software.

They will each hold 50 percent in the venture to be called

Unicom Continental Intelligent Transportation Technology

(Shanghai) Co. Ltd, Continental said in a statement on

Wednesday. The venture will be based in Shanghai.

It did not provide financial details of the transaction.

(Reporting by Maria Sheahan; Editing by Edmund Blair)