Two approaches for defining common knowledge coexist in the literature: the infinite iteration definition and the circular or fixed point one. In particular, an original modelization of the fixed point definition was proposed by Barwise in the context of a non-well-founded set theory and the infinite iteration approach has been technically analyzed within multi-modal epistemic logic using neighbourhood semantics by Lismont. This paper exhibits a relation between these two ways of modelling common knowledge which seem at first quite different.