The ratio Phi --> K+K-/K-0(K) over bar(0) is discussed and its present expe
rimental value is compared with theoretical expectations. A difference larg
er than two standard deviations is observed. We critically examine a number
of mechanisms that could account for this discrepancy, which remains unexp
lained. Measurements at DA Phi NE at the level of the per mille accuracy ca
n clarify whether there exist any anomaly. (C) 2000 Published by Elsevier S
cience B.V.