Relinquish flutter by phone (5)

I believe the answer is:

waive

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'relinquish' is the definition.
(synonyms)

I cannot understand how the remainder of the clue works.

(Other definitions for waive that I've seen before include "Refrain from insisting on right or privilege" , "Don't insist on" , "Dispense with, forgo" , "Surrender" , "Not insist on (claim)" .)

I've seen this clue in the Sydney Morning Herald.

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