Higgs-mediated FCNCs: natural flavour conservation vs. minimal flavour violation

We compare the effectiveness of two hypotheses, Natural Flavour Conservation (NFC) and Minimal Flavour Violation (MFV), in suppressing the strength of flavour-changing neutral-currents (FCNCs) in models with more than one Higgs doublet. We show that the MFV hypothesis, in its general formulation, is more stable in suppressing FCNCs than the hypothesis of NFC alone when quantum corrections are taken into account. The phenomenological implications of the two scenarios are discussed analysing meson-antimeson mixing observables and the rare decays B-s,B-d -> mu(+)mu(-). We demonstrate that, introducing flavour-blind CP phases, two-Higgs doublet models respecting the MFV hypothesis can accommodate a large CP-violating phase in B-s mixing, as hinted by CDF and D0 data and, without extra free parameters, soften significantly in a correlated manner the observed anomaly in the relation between epsilon(K) and S-psi KS.