A consortium led by South Korean conglomerate Shinsegae Group has reportedly been selected as the preferred bidder for eBay Korea, the South Korean unit of e-commerce giant eBay.

While no exact bidding price was confirmed, the consortium of Shinsegae's Emart and leading portal operator Naver reportedly offered around four-point-four trillion won to acquire 80 percent of eBay Korea.

The purchase is expected to help Shinsegae expand its domestic e-commerce market share from the current three percent, as eBay Korea took up around 12 percent last year, following Naver's 18 percent and Coupang's 13 percent.

In March, Shinsegae strengthened its business ties with Naver by signing a 250-billion-won share swap.

Meanwhile, Shinsegae's retail rival Lotte Shopping reportedly bid less than three trillion won for the takeover.