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)