Wait: don't ring off! (4,2)

I believe the answer is:

hold on

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'wait' is the definition.
(hold on can mean to wait)

I don't understand how the remainder of the clue works.

(Other definitions for hold on that I've seen before include "Cling to - just a second" , "Wait a bit!" , "Informally, just a mo', or don't let go" , "Retain grasp, and don't ring off" , "Cling to or informally stop a mo'" .)

I've seen this clue in The Irish Independent.

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