Nov. 2 (Bloomberg) -- Virgin Media Inc. may announce tomorrow that it has postponed repayments on its 4.3 billion- pound ($6.95 billion) debt burden for three years, the Sunday Telegraph reported, citing ``sources.''

The company, which was due to refinance its debt next year, has asked lenders to agree to a payment deferral until June 2012, the newspaper said.

Virgin Media shares climbed as much as 29 percent in Nasdaq Stock Market trading, the most since 2004, on Oct. 13 after the U.K.'s second-largest pay-television operator said its 10 main lenders supported the company's request for more time to make amortization payments on loans.

To contact the reporter on this story: Sarah Thompson in London at sthompson17@bloomberg.net.

Last Updated: November 2, 2008 04:57 EST