UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TELECOM CORP OF NEW ZEALAND LTD
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(NAME OF ISSUER)
ORDINARY SHARES
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(TITLE OF CLASS OF SECURITIES)
879278208
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(CUSIP NUMBER)
DECEMBER 31, 2005
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(DATE OF EVENT WHICH REQUIRES
FILING OF THIS STATEMENT)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
CUSIP NO. 879278208 13G PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
ING Groep N.V.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
Not Applicable (b) [_]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
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5 SOLE VOTING POWER
98,484,684 (1)(2)
NUMBER OF ---------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 0
REPORTING ---------------------------------------------------------
PERSON WITH: 7 SOLE DISPOSITIVE POWER
98,484,684 (1)(2)
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
98,484,684
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [_]
Not Applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.02%
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12 TYPE OF REPORTING PERSON
HC
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(1) The dispositive and voting power are held through ordinary shares in Telecom
Corporation of New Zealand as listed on the NZX.
(2) These ordinary shares are held by indirect subsidiaries of ING Groep N.V. in
their role as a discretionary manager of client portfolios.
-2-
CUSIP NO. 879278208 13G PAGE 3 OF 6 PAGES
ITEM 1(A). NAME OF ISSUER:
Telecom Corp of New Zealand Ltd
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Telecom Networks House
28 Jervois Quay
Wellington, New Zealand Q2 00000
ITEM 2(A). NAME OF PERSON FILING:
ING Groep N.V.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Amstelveenseweg 500
1081 KL Amsterdam
The Netherlands
ITEM 2(C). CITIZENSHIP:
See item 4 on Page 2
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Ordinary Shares
ITEM 2(E). CUSIP NUMBER:
879278208
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(Not Applicable)
(a) |_| Broker or dealer registered under Section 15 of the
Securities Exchange Act of 1934, as amended (the "Exchange
Act");
(b) |_| Bank as defined in Section 3(a)(6) of the Exchange
Act;
(c) |_| Insurance company as defined in Section 3(a)(19) of
the Exchange Act;
-3-
CUSIP NO. 879278208 13G PAGE 4 OF 6 PAGES
(d) |_| Investment company registered under Section 8 of the
Investment Company Act of 1940, as amended (the
"Investment Company Act");
(e) |_| Investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E) under the Exchange Act;
(f) |_| Employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F) under the Exchange Act;
(g) |_| Parent holding company or control person in accordance
with Rule 13d-1(b)(ii)(G) under the Exchange Act;
(h) |_| Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) |_| Church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act;
(j) |_| Group in accordance with Rule 13d-1(b)(1)(ii)(J) under
the Exchange Act.
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned:
See item 9 on Page 2
(b) Percent of class:
See item 11 on Page 2
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
See item 5 on Page 2
(ii) Shared power to vote or to direct the vote:
See item 6 on Page 2
-4-
CUSIP NO. 879278208 13G PAGE 5 OF 6 PAGES
(iii) Sole power to dispose or to direct the disposition
of:
See item 7 on Page 2
(iv) Shared power to dispose or to direct the disposition
of:
See item 8 on Page 2
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY OR CONTROL PERSON.
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATION.
Not Applicable
-5-
CUSIP NO. 879278208 13G PAGE 6 OF 6 PAGES
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 13, 2006
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(Date)
ING GROEP N.V.
By:
/s/ Cornelis Blokbergen
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(Signature)
Cornelis Blokbergen,
Head Legal Department
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(Name/Title)
/s/ Huib D. ter Haar
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(Signature)
Huib D. ter Haar,
Group Compliance Officer
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(Name/Title)