Configure exim4 to use Microsoft Exchange as smarthost
Solution 1:
Does your organisation operate its own certificate authority for internal servers? Perhaps you need to add the CA certificates for the Exchange server into the certificate trust store for Exim? A lot of products don't report this error very well (I don't know if Exim does or not).
Wireshark (capture first on the server with tcpdump -p -s0 -w /tmp/foo.pcap
then copy to a local workstation with Wireshark) should be able to show the server certificate send from Exchange, and if the client hangs up after that, then a missing CA certificate is a common cause.
Solution 2:
Our problem was rather specific to our setup. We have more than one Exchange Server running in parallel with a load balancer acting as AP. The LB was malconfigured which caused it to neglect to offer any authentication method bar NTLM
and GSSAPI
even after successful STARTTLS
handshake.
In-depth testing via swaks
jetmore.org (can highly recommend this tool) revealed this.