A process for the telomerization of butadiene comprises reacting 1,3-butadiene and an alkanol, in the presence of a catalyst promoter and an alkoxydimerization catalyst comprising a Group VIII transition metal and a triarylphosphine ligand, which includes one phenyl that is mono-ortho-alkoxy substituted and at least one other phenyl including at least one substituent that withdraws electrons from the phosphorus atom. The product includes an alkoxy-substituted octadiene, which may then be used to produce 1-octene. The catalyst shows improved stability, activity and selectivity toward the alkoxy-substituted octadiene.