As I see it, you have a few options :
Rig it like a regular cane pole (spiral the line around the pole & tie to the tip eye, and leave 15-16 feet of line out to fish with) ... good for 15fow or less.
Wrap your own guides on the rod & add a reel of choice (taped on with elec tape). You'd have to put the guides on just at the top of each section, so the rod could be collapsed down/telescoped out ... good for any depth. You'd only want one guide per each section, less the section with the tip eye. Paper clips might be substituted for guides, and taped onto the rod sections, if you don't want to spend any more $$ on guides ... or if you just want to experiment with placement & see if the rod will still collapse/extend (before you glue/wrap any guides).
Running the line "inside" the pole probably wouldn't work. There are poles made for doing that, but I don't know how you'd fix this one to be that way.
... cp