South Korea’s SK Telecom, retailer Shinsegae Group and private equity firm MBK Partners were among those that entered non-binding, preliminary bids for the sale of eBay Inc’s South Korean business, the telecom company and two sources with knowledge of the matter said on Tuesday.

EBay Korea operates open market e-commerce platforms Gmarket, Auction and G9, and was South Korea’s third-largest e-commerce firm in 2020 with 12.8% market share, according to Euromonitor.

Seoul-based analysts said that eBay hopes to fetch up to 5 trillion won (S4.42 billion) with the sale.

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