Hello James, welcome to OFF.
I totally agree with the others. Telescoping rods aren't worth spending any money on at all IMO.
What the others are essentially referring to are known as "pack rods". They come in 3, 4, or even more sections. They are all part of the same rod, which is built in short sections. So that it can be stored in a backpack or suitcase. Then put together when your arrive at your destination. Many company's have made pack rods over the years including Fenwick, Lamiglas, Eagle Claw (which was Wright/McGill earlier), Sage, Winston, and many others. The term "travel rods" is also used, to describe the rods as well.
Incidentally I highly suggest that you do NOT get a combination FLY/SPIN pack rod. If you are going to Fly fish; then get a fly rod. If you are going to spin cast, then get a spinning rod. They are built differently; and do NOT do BOTH types well.