Microsoft Outlook 2011 for Mac fails to rebuild identity

When starting Microsoft Outlook 2011 for Mac it says that the identity needs to be rebuilt.
When trying to do this it terminates after the last step with the error that the identity could not be rebuilt.

There is approx 50 GB of free disk space and the identity is 7,5 GB. According to Microsoft the free disk space needs to be at least 3 times the size of the identity.

Any hints?

Regards,
Claus Pedersen
MacSupportenAsked:
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