The European Commission has unconditionally approved Comcast's proposed bid for Sky. It has already approved the rival bid for the European pay-TV giant from 21st Century Fox. The Commission said Friday that the "transaction would raise no competition concerns in Europe."

In a statement, the Commission said: "The Commission found that the proposed transaction would lead to only a limited increase in Sky's existing share of the markets for the acquisition of TV content, as well as in the market for the wholesale supply of TV channels in the relevant Member States."

It added that it had examined whether a Comcast-owned Sky would limit access to content and concluded that would not be the case. Similarly, it said the deal would not make Sky less likely to buy programming from Comcast competitors as that would reduce the quality of its offering.

"Based on the results of its market investigation, the Commission concluded that the proposed transaction would raise no competition concerns." The Commission said.