Dinuclear rhodium(I) η2:η2-cycloocta-1,5-diene (series a) and η2:η2-norborna-2,5-diene (series b) complexes with μ-RCOO- ligands, where R is linear C21H43 (complexes 1a, 1b), CH2CMe3 (2a, 2b), 1-adamantyl (3a, 3b) and benzyl (4a, 4b), have been prepared and characterized by spectroscopic methods. Structures of complexes 2b, 3a and 4a were determined by X-ray diffraction analysis. Complexes prepared show low to moderate catalytic activity in polymerization of phenylacetylene in THF giving high-cis-transoid polymers, but they show only oligomerization activity in dichloromethane.