Finally found a solution:

This problem happens only for a domain account (We use samba, win 10 and outlook 2016).  The solution gives in

http://answers.microsoft.com/en-us/office/forum/office_2013_release-outlook/error-0x8004011c-after-t...

is:

[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Cryptography\Protect\Providers\df9d8cd0-1501-11d1-8c7a-00c04fc297eb]
-> Add this key    "ProtectionPolicy"=dword:00000001

The above register key solved my problem. Hope it is useful for others.

works with all newer 365 installs