The modular invariance of the one-loop partition function of the closed
bosonic string in four dimensions in the presence of certain homogeneous exact
pp-wave backgrounds is studied. In the absence of an axion field the partition
function is found to be modular invariant. In the presence of an axion field
modular invariace is broken. This can be attributed to the light-cone gauge
which breaks the symmetry in the σ-, t-directions. Recovery of this
broken modular invariance suggests the introduction of twists in the
world-sheet directions. However, one needs to go beyond the light-cone gauge to
introduce such twists.Comment: 17 pages, added reference