Polybutadiene (PB) can be easily halogenated by reaction with iodine chloride or bromine in tetrahydrofuran. The resulting glassy polymers were reacted with n-butyllithium, sec-butyl-lithium, and polystyryllithium in THF. Iodochlorinated PB gave a polybutadiene with a different cis/trans ratio with n-BuLi. The reformation of PB was accompanied by partial crosslinking. The reaction probably involved a halogen-metal exchange followed by intra- and intermolecular elimination of Li halide. With brominated PB, both coupling and elimination took place. With sec-BuLi, an allylic iodine derivative was obtained from iodochlorinated PB, probably by dehydrochlorination. The iodinated intermediate can easily undergo a coupling reaction with further sec-BuLi. Both iodochlorinated and brominated polybutadienes gave graft copolymers by reaction with polystyryllithium in THF. Grafting was always accompanied by gel formation.