The reaction of bifunctional neutral phosphenium ion complexes, containing a carbon-carbon triple bond next to a phosphorus-molybdenum multiple bond, with carbenes and to carbene isolobal organometallic fragments is discussed. So, the reaction of (R)(PhC=C)P=MoCp′(CO), (R = 2,4,6-′Bu3C6H2O; Cp′ = η5-C5H5: la; Cp′ = η5-C5Me5: 1b) with CH2,Ν2 (2) yields the three membered heterocyclic compound (3). 3 reacts with Co2(CO)8 to afford complex (5) in which the phenylethynyl building block is η2-side-on coordinated to a Co2(CO)6 fragment. Similar to the reaction of 1 with 2, 1 forms with Fe2(CO)9 (6), compound (7). In 7 the PMo double bond is coordinated in a η2 fashion to the 16-electron organometallic fragment Fe(CO)4. Using an excess of 6 and a higher temperature, the phosphorus-alkynyl-carbon σ-bond is cleaved, and cluster MoCp*Fe3(CO)8η3-PR)(C≡CPh) (8) is formed. The reaction of 1 with Cr(CO)5(THF) yields 10, a complex, in which the PhC≡C ligand is η2-coordinated to Cp′(CO)2Mo, and the Cr(CO)5 group forms a dative bond with the phosphorus atom. All new compounds have been characterized by analytical as well as by spectroscopic data (IR, 1H, 31P, 13C NMR, MS), compound 10 by an X-ray analysis.