Mario Vargas Llosa, a giant of Latin American literature whose political ambitions saw him run for president of his native Peru, finally won the 2010 Nobel Literature Prize on Thursday at the age of 74. Vargas Llosa, long tipped to win the award, is best known for works such as "Conversation in the Cathedral" and "The Feast of the Goat" but is also a prolific journalist, still writing for Spain's El Pais daily. Duration: 00:49.