It won’t happen. This is the same means that the ChiComs used when they acquired the Soviet Varyag, which they said would be turned into a casino.
Set up a front to buy the hulk for some seemingly inocuous purpose, haul it to the Dalian shipyards, and then turn it back into an operational carrier. That’s what they are up to.
The Brits are fools if they fall for this.
To do that they'd also have to build a VTOL aircraft which (in the form of the Harier) was the only plane capable of operating from an Invincible-class carrier (no catapults!)