The behaviour of the ppBAR --> LAMBDALAMBDABAR reaction cross section
near the LAMBDALAMBDABAR threshold is described within a hermitian cou
pled-channels approach, The observed structure is shown to be caused b
y a narrow LAMBDALAMBDABAR subthreshold state of quasinuclear nature.
This resonance with quantum numbers J(PC) = 1-- is produced in the 3SD
1 partial wave and has a width of a few MeV. The physical reasons for
the smallness of its width are explained. Other experimental possibili
ties to find this resonance are proposed.