Analysis of the literature structures [(CO)(PPh3)2MC2B9H11] and [(CO)2(PPh3)MC2B9H11] suggests that in [L3MC2B9H11] metallacarboranes the trans influence of CO is greater than that of PPh3. Extending this study to the [L4MC2B9H11] system the new molybdacarboranes [3,3,3‐(CO)3‐3‐PPh3‐3,1,2‐closo‐MoC2B9H11] (2), [1,2‐Me2‐3,3,3‐(CO)3‐3‐PPh3‐3,1,2‐closo‐MoC2B9H9] (3) and trans‐[3,3‐(CO)2‐3,3‐(PPh3)2‐3,1,2‐closo‐MoC2B9H11] (4) were prepared and fully characterised. Consideration of the exopolyhedral ligand orientations (ELO) in 2 confirms that, in terms of trans influence, CO > PPh3 in [L4MC2B9H11] also. The ELO is effectively reversed in 3 through intramolecular steric crowding between the cage CH3 groups and the PPh3 ligand. The dicarbonylbis(triphenylphosphine) compound 4 has effective Cs symmetry with one CO ligand trans and the other CO ligand cis to the cage C–C connectivity. Unexpectedly the Mo–CO bond lengths are equal. DFT calculations on 4 reproduce this unusual result, but suggest that in the less‐crowded PH3 analogue, the Mo–CO bond length trans to cage C would be about 0.2 Å shorter than that trans to cage B. To test this prediction, the analogous PEt3 complex was prepared as cis and trans structural isomers 5 and 6. The cis isomer 5 is quantitatively converted into the trans isomer 6 when heated to reflux in THF. In 6 the Mo–CO bond more trans to cage C is about 0.2 Å shorter than that which is more trans to cage B, in line with the DFT prediction.