Tele (far) and phone (voice) come from Greek, not Latin. The question is whether you should create a neologism based on Latin, or use a loan word from the Greek. In order to be understandable, it is probably best to use a loan word, but then the question becomes whether it should be phonetized with Latin letters or not. The φ in classical Greek was pronounced as /pʰ/ (an aspirated p sound), but it changed to /f/ in modern Greek, so in Latin should it be spelled as telefonice for modern Greek pronunciation or telephonice to reflect the classical Greek with a loan letter from the Greek since Latin doesn’t have an aspirated p sound in the language?
Gee, isn’t it fun to argue about a language that nobody speaks!