The peri-, chemo-, stereo-, and regioselectivity of the addition of the transition-metal oxides OsO4 and LReO3 (L = O-, H3PN, Me, Cp) to ketene were systematically investigated using density-functional methods. While metal-oxide additions to ethylene have recently been reported to follow a [3+2] mechanism only, the calculations reveal a strong influence of the metal on the periselectivity of the ketene addition: OsO4 again prefers a [3+2] pathway across the C=C moiety whereas, for the rhenium oxides LReO3, the [2+2] barriers are lowest. Furthermore, a divergent chemoselectivity arising from the ligand L was found: ReO4- and (H3PN)ReO3 add across the C=O bond while MeReO3 and CpReO3 favor the addition across the C=C moiety. The calculated energy profile for the MeReO3 additions differs from the CpReO3 energy profile by up to 45 kcal/mol due to the stereoelectronic flexibility of the Cp ligand adopting eta5, eta3, and eta1 bonding modes. The selectivity of the cycloadditions was rationalized by the analysis of donor-acceptor interactions in the transition states. In contrast, metal-oxide additions to diphenylketene probably follow a different mechanism: We give theoretical evidence for a zwitterionic intermediate that is formed by nucleophilic attack at the carbonyl moiety and undergoes a subsequent cyclization yielding the thermodynamically favored product. This two-step pathway is in agreement with the results of recent experimental work.