M2-branes on M-folds

We argue that the moduli space for the Bagger-Lambert A_4 theory at level k is (R^8 \times R^8)/D_{2k}, where D_{2k} is the dihedral group of order 4k. We conjecture that the theory describes two M2-branes on a Z_{2k} ``M-fold'', in which a geometrical action of Z_{2k} is combined with an action on the branes. For k=1, this arises as the strong coupling limit of two D2-branes on an O2^- orientifold, whose worldvolume theory is the maximally supersymmetric SO(4) gauge theory. Finally, in an appropriate large-k limit we show that one recovers compactified M-theory and the M2-branes reduce to D2-branes.