A new catalytic reaction – dimerization of acetylene accompanied by addition of iodine to yield (E,E)-1,4-diiodobuta-1,3-diene at 30°C in a methanolic solution of NaI, PtIV and I2 – has been found; a plausible reaction mechanism involves intermediate formation of a cis-divinyl derivative of platinum(IV) through two subsequent triple bond iodoplatination steps followed by reductive elimination of the final product.