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Munich's mayor celebrated victory in a referendum Sunday on whether the city should bid to host the Olympics .

Just over 66% of the votes cast were in favor of an Olympic bid, Munich authorities said.

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Munich residents were asked to vote on whether their city should pursue hosting the Summer Olympics — which it hosted in 1972 — but it was left open whether the bid would be for 2036, 2040 or even 2044.

The bid's backers say hosting the Olympics would help develop Munich's housing, public transport and business. Opponents have raised concerns over the costs involved.

“This result is far more than a yes to the Olympics. It is a yes to bold, sustainable, and inclusive urban developme

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