Verde Telecom
| Verde | |
| Type | Public |
| VERT | |
| Industry | Telecommunications |
| Founder | Fred Feriki |
Area served | Phoenixia |
Key people | Edmond Klerk (Chairman) Fred Feriki (CEO) and (President) |
| Products |
|
| Revenue |  P$200 billion (2023) |
| P$706 billion (2023) | |
Number of employees | 3,210 (2023) |
| Website | verdetelecom.phx |
Verde Telecom, commonly known as Verde, is a multinational telecommunications and media corporation headquartered in Belporto, Phoenixia. Founded by Phoenixian billionaire, Fred Feriki, in 1981, Verde Telecom has since risen to become the dominant telecoms operator in the country, holding a market share of 23.8%.
With its extensive network, VerdeNet, the company provides a full suite of services, including mobile and fixed-line telecommunications, internet services, and media offerings.
Verde Telecom was the first to introduce 3G and 4G services, which revolutionized mobile internet services in the country and allowed customers to enjoy high-speed internet on the go.
In 1998, the company was involved in a corruption and money laundering scandal, which resulted in a significant fine of P$23 billion.
In 2002, the Federal Antitrust fined Verde Telecom for engaging in monopolistic behavior, alleging that the company used its dominant market position to prevent competition and charge excessive fees to its customers.