ING lifts Waste stake

ING Property Trust has increased its stake in Waste Management to just over 5 per cent.

A substantial security holder notice - required for holdings above 5 per cent - was filed with the stock exchange yesterday.

Waste Management has had a positive year, giving a 50 per cent return to shareholders.

Its shares ended the year at $5.65 each. The company expanded its local and Australian presence last year.