Windows Update consistently fails to install KB2839229 on a Windows 7 SP1 desktop.

Windows Update consistently fails to install KB2839229 on a Windows 7 SP1 desktop. This update first appeared on 12 June 2013 and has always failed to install since.

The error code given for the failure is 800703ee. This error code is not one listed in the subsequent help/support for that error. Does anyone have any information what this error is?

The automated windows update troubleshooter claims there are errors to fix and fixes these but this does not fix the above Windows Update failure.

Also tried the troubleshooter manual options:
Installing the update manually, fails with the same error.
There are no MS license to accept for this update.
There is sufficient disk space for the update: 340GB free.
The download/installation was not cancelled nor connection interrupted.
No driver updates were installed concurrently with the windows update.

Other Windows Updates are successful, only this one fails.
NB Windows Update does not run in Safe Mode with Networking.

sfc /scannow run as an administrtor found no errors.

Registry, Anti-virus and Malware scans also found no anomalies.

Any other suggestions to try?