Reaction of 4'-(2-propyn-1-oxy)-2,2':6',2''-terpyridine (HC triple bond CCH2Oterpy) with trans-[PtI2(PEt3)2] regioselectively metallates the alkyne to give trans-[Pt(C triple bond CCH2Oterpy)2(PEt3)2] which, when treated with Fe(II), gives a [2 + 2]-metallocycle.