Based on the good time-frequency localization of the pulse shaping, it is possible to build a multicarrier modulation that reduces both narrowband interferences and multi-path channel interferences. In this paper, the given solution is based on wavelet theory: wavelet packet based multi-carrier modulation is introduced and compared to the useful Orthogonal Frequency Domain Multiplexing (OFDM) modulation in a wireless environment with narrowband interferences and multipath channel interferences. Simulations show that the use of wavelet is more robust to narrow-band interferences than the OFDM modulation. For multipath transmission, simulations show that the use of complex wavelet outperforms the use of real one and outperforms the OFDM modulation when the cyclic prefix technique is not used.