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Italian police search firms over Olympic cable car contract - Finance news and analysis from Global Banking & Finance Review
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Italian police search firms over Olympic cable car contract

Published by Global Banking & Finance Review

Posted on May 21, 2026

1 min read

· Last updated: May 21, 2026

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Finance infrastructure Olympics Italy Legal

Italian Police Search Firms Over Milano-Cortina Olympics Cable Car Contract

Investigation into Milano-Cortina Olympics Cable Car Project

Police Searches and Firms Involved

MILAN, May 21 (Reuters) - Italian police searched the headquarters of two firms on Thursday involved in constructing a cable car for the 2026 Milano-Cortina Winter Games as part of a bid-rigging investigation, prosecutors said.

Details of the Cable Car Project

• The Apollonio–Socrepes cable car in Cortina d'Ampezzo, that was not completed in time, was one of the most contentious infrastructure projects linked to the Games.

Companies Targeted in the Investigation

• The firms searched were Simico, the state-backed Olympic infrastructure agency, and Graffer, the company tasked with building the cable car.

Additional Searches and Statements

• Police also searched the premises of individuals under investigation in Rome, Milan, Brescia, Naples and Cortina.

• Simico said in a statement it was fully cooperating with prosecutors and was confident it had acted correctly.

• Graffer did not immediately respond to a request for comment.

(Reporting by Sara Rossi, editing by Alvise Armellini and Elaine Hardcastle)

Key Takeaways

  • Police are investigating possible bid‑rigging in the contract for the cable car, with searches at Simico (state‑backed Olympic infrastructure agency) and Graffer (construction firm).
  • The Apollonio‑Socrepes project has faced delays, geological issues, environmental objections and rising costs—from initial €22.8 million to approximately €35 million. (ildolomiti.it)
  • The project has been subject to legal scrutiny: a public inquiry was opened in February 2026 over safety and landslide risks, and the Corte dei Conti is examining financial and procedural irregularities. (ansa.it)

References

Frequently Asked Questions

Why did Italian police search the firms involved in the Olympic cable car project?
Police conducted searches as part of a bid-rigging investigation related to the 2026 Milano-Cortina Winter Games' cable car contract.
Which companies were searched in the Olympic cable car investigation?
The firms searched were Simico, the Olympic infrastructure agency, and Graffer, the company building the cable car.
What is the Apollonio–Socrepes cable car?
It is an infrastructure project in Cortina d'Ampezzo intended for the 2026 Winter Games, noted for its delays and controversy.
How has Simico responded to the investigation?
Simico stated it is fully cooperating with prosecutors and is confident it acted correctly.
Were any individuals' premises searched during the investigation?
Yes, police also searched the premises of individuals under investigation in several Italian cities.

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