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TOKYO, July 24 (Reuters) The Nikkei share average fell 0.81 percent on Monday with technology issues under pressure following declines in U.S. rivals, but some paper stocks were bid up on chances of an industry shake-up.

Hokuetsu Paper Mills Ltd. was glutted with buy orders after Japan's largest paper maker, Oji Paper Co. Ltd., said on Sunday it would launch a takeover bid for Hokuetsu Paper in a deal that could reach $1.2 billion and create the world's fifth-largest paper group.

The Nikkei share average shed 120.68 points to 14,700.58 as of 0001 GMT while the broader TOPIX index lost 0.73 percent to 1,504.40.

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