A process for preparing poly (oxyalkylene) -poliester-poly (sulfide) -politiol, characterized in that is reacted in the presence of a transesterification catalyst a mixture of an amount included between 5 and 95% by weight of an alkyl mercaptocarboxylate of the formula (See formula I) inthe which R 'is an alkyl radical containing 1 to 5 carbon atoms, R is hydrogen or R', n is an integer of 1 to 5 and the total number of carbon atoms all R groups can reach up to 15 carbon atoms per molecule.
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