Looks like a bamboo rod. If so you need to carefully inspect the bamboo strips and make sure they are sound. Check the length of the 3 pieces, They should be equal length if no breaks and repairs. You will need to scrape the old varnish off the bamboo and revarnish.. replace the guides and tip top. the stripper guide is probably agate and mabe worth keeping. You can use spar varnish on the guide wraps They will need several coats. I'd replace the handle and reel seat.
A lot of work and time. You could just replace the guides and tip top and try it out The wraps between the guides are decoration and not needed Good luck.