The invention relates to a catalyst system comprising I. a solid reaction product obtained by reaction of: (a) a hydrocarbon solution comprising (1) an organic oxygen containing magnesium compound or a halogen containing magnesium compound and (2) an organic oxygen containing titanium compound and (b) a mixture comprising a metal compound having the formula MeRnX3-n wherein X is a halogenide, Me is a metal of Group III of Mendeleev's Periodic System of Chemical Elements, R is a hydrocarbon radical containing 1-10 carbon atoms and 0≦n≦3 and a silicon compound of formula RmSiCl4-m wherein 0≦m≦2 and R is a hydrocarbon radical containing 1-10 carbon atoms wherein the molar ratio of metal from (b): titanium from (a) is lower then 1:1 and II. an organoaluminium compound having the formula AlR3 in which R is a hydrocarbon radical containing 1-10 carbon atoms.