French entertainment-to-telecoms giant Vivendi SA (VIV.FR) remains open to acquisition opportunities in high-growth markets, but its priority is to develop new products and services within the group, Chief Executive Jean-Bernard Levy said at the group's annual general meeting Thursday.

Vivendi will focus on innovation within its different units, which include French telecoms group SFR, pay-TV Canal Plus and Universal Music Group, among others. The company is also seeking to develop new economic models to improve its growth potential and profitability, Levy said.

"We are well placed to accelerate growth," Levy told shareholders at the meeting in Paris.

-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1740; ruth.bender@dowjones.com