The formation of novel complexes [M(dppm)(Ph 2 PCH 2 PPh 2 PPPP)]OTf (M = Rh, Ir, dppm = bisdiphenylphoshinomethane, OTf = OSO 2 CF 3 ) bearing in their coordination sphere a new type of oligophosphorus ligands results from bimetallic activation and consequent transformation of white phosphorus. These complexes display electrophilic properties and can be activated either electrochemically or by interaction with nucleophilic reagents.