  Recent neutron scattering experiments on V2O3 show that the magnetic
fluctuations on the metallic side of the antiferromagnetic metal-insulator
transition are not related to the spin structure of the insulator, but rather
to the bandstructure-driven spin-density wave phase of the doped system
V(2-y)O3. We calculate these magnetic fluctuations starting from a
Slater-Koster bandstructure and incorporating the correlation effects through
the dynamical mean-field theory (DMFT). Our results demonstrate that the
magnetic properties of the paramagnetic metallic phase are dominated by the
Fermi surface topology. On the other hand, the electron-electron interaction
drives the paramagnetic metal-insulator transition in V2O3. The transition to
the antiferromagnetic insulator by virtue of orbital ordering is discussed in
the framework of the DMFT.
