CONI sent a letter of intent to the International Olympic Committee (IOC) on Thursday outlining the candidacy plans by the two cities situated 145 kilometres apart in the industrial north of Italy.
"CONI has informed the IOC of its willingness to continue the dialogue phase started in recent months regarding the 2026 Winter Olympics," CONI said in a statement.
"In order to respect the deadline indicated by the IOC and after numerous meetings and discussions with IOC officials, CONI has communicated its intentions in a letter in which the candidacy of the city of Milan/Turin is indicated."
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The deadline for submissions of a letter of intent is March 31st. Selected cities will then be allowed to submit a complete dossier with the eventual host chosen at the IOC session in Milan in September 2019.
Other candidates at the moment include Sion, Switzerland; Calgary, Canada; Stockholm, Sweden and Sapporo, Japan.
Italy has already hosted the Winter Games twice in Turin in 2006, and Cortina d'Ampezzo, in the Dolomites in 1956.
The luge track in Cesana Pairol, at the 2006 Winter Olympics. Photo: Eric Feferberg/AFP
The current mayor of Turin, Chiara Appendino, is also a member of the M5S.
CONI added that it was awaiting the formation of the new government to submit a feasibility study.
Italy was plunged into uncertainty after the March 4th elections resulted in a hung parliament with no group in a position to govern alone.
The M5S became Italy's leading single party with 32.7 percent of the vote. Discussions to form a new government could take weeks or months.