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Chile awaits poll run-off result Chile billionaire set for victory
(about 1 hour later)
Polls have closed in Chile's presidential run-off, which could see the first conservative government for more than two decades. Social Democrat Eduardo Frei has conceded defeat to billionaire Sebastian Pinera in Chile's presidential run-off.
Billionaire Sebastian Pinera won 44% of the vote in last month's first round, well ahead of Eduardo Frei of the governing Social Democrats. The move leaves Chile set for its first conservative government for more than two decades.
But opinion polls suggest the outcome of the second round will be very close. Partial results from 60% of Chile's polling stations showed Mr Pinera with 52% of the vote to Mr Frei's 48%.
Mr Pinera won 44% of the vote in last month's first round, well ahead of the governing Social Democrat candidate.
Chile's last conservative leader was military ruler Gen Augusto Pinochet, who stepped down in 1990.Chile's last conservative leader was military ruler Gen Augusto Pinochet, who stepped down in 1990.
Mr Frei, 67, is seeking his second term as president after an absence of 10 years. Bachelet barred
Mr Pinera, 60, owns a television channel, a stake in Chile's most successful football club and has millions of dollars in investments.Mr Pinera, 60, owns a television channel, a stake in Chile's most successful football club and has millions of dollars in investments.
He has campaigned on a tough law-and-order programme and has vowed to use his business know-how to reactivate the economy.He has campaigned on a tough law-and-order programme and has vowed to use his business know-how to reactivate the economy.
This is the second time Mr Pinera has run for the presidency at the head of a centre-right coalition.This is the second time Mr Pinera has run for the presidency at the head of a centre-right coalition.
In 2006, he lost to the outgoing Socialist president Michelle Bachelet. Under the constitution she cannot stand for re-election.In 2006, he lost to the outgoing Socialist president Michelle Bachelet. Under the constitution she cannot stand for re-election.
She will leave office in March with a high approval ratings as a result of policies to tackle poverty and use Chile's all-important copper exports to offset the effects of the global economic crisis. She will leave office in March with a high approval rating as a result of policies to tackle poverty and use Chile's all-important copper exports to offset the effects of the global economic crisis.
Mr Frei has promised a continuation and deepening of many of her policies. Mr Frei, 67, had promised a continuation and deepening of many of her policies.
He had been seeking his second term as president after an absence of 10 years.