Dunaden has given France its second successive winner in the Melbourne Cup, beating England's Red Cadeaux by the barest margin in the $6.2 million race.
After the closest finish in the 151-year history of the race, German horse Lucas Cranach completed an international sweep of the placings.
Dunaden's jockey Christophe Lemaire, who arrived in Australia 24 hours before the race after Craig Williams lost an appeal to keep the ride, shed tears when judges gave him the verdict.
"It's incredible - it's a great moment for me," Lemaire said.
"I was a bit anxious. I knew it was very close.
"I feel very sorry for Craig. He's a good friend of mine," Lemaire said.
Last year's winner Americain started favourite and finished fourth.
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