Here's what happens:
spoilers:end of spoilers
Sigurd the Ever Glorious is discussing with Kaluu, master of black magic about a treat of reincarnation
Sigurd tellls him the story of how he beat Loki
Kaluu ends-up being Meohisto in disguiseç
Loki tricks them both at the end.
Favorite Marvel title of the week, nothing else comes even close.