Hugo Chavez Wins Re-Election In Venezuela Presidential Vote

10/07/2012 10:55 pm ET | Updated Oct 08, 2012

CARACAS, Venezuela -- Venezuela's electoral council says President Hugo Chavez has won re-election, defeating challenger Henrique Capriles.

National Electoral Council president Tibisay Lucena says that with most votes counted, Chavez had about 54 percent of the vote.

It was Chavez's third re-election victory in nearly 14 years in office. The victory gives Chavez another six-year term to cement his legacy and press more forcefully for a transition to socialism in the country with the world's largest proven oil reserves.

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