Cannot initialize the data source object of OLE DB provider Microsoft.Jet.OLEDB.4.0 for linked server

CREATE THE LINKSERVER FROM Excel

OLE DB provider "Microsoft.Jet.OLEDB.4.0" for linked server "TestLinkServer" returned message "Cannot start your application. The workgroup information file is missing or opened exclusively by another user.".

Msg 7399, Level 16, State 1, Procedure sp_tables_ex, Line 41 The OLE DB provider "Microsoft.Jet.OLEDB.4.0" for linked server "TestLinkServer" reported an error. Authentication failed.

Msg 7303, Level 16, State 1, Procedure sp_tables_ex, Line 41 Cannot initialize the data source object of OLE DB provider "Microsoft.Jet.OLEDB.4.0" for linked server " TestLinkServer".

If you happen to come across the error mentioned above, here the solution that work for me.

Step to re-produce the problem.

--CREATE THE LINKSERVER FROM Excel
EXEC sp_addlinkedserver

   @server = N'TestLinkServer',
   @provider = N'Microsoft.Jet.OLEDB.4.0',
   @srvproduct = N'Excel',
   @datasrc = N'c:\test\book1.xls',
   @provstr = N'Excel 8.0'
GO

--List all the sheets in the Excel
EXECUTE SP_TABLES_EX 'TestLinkServer'  -- throw the error message

--Solution
EXEC master.dbo.sp_addlinkedsrvlogin @rmtsrvname=N'TestLinkServer',
                        @useself=N'False',
                        @locallogin=NULL,
                        @rmtuser=NULL,
                        @rmtpassword=NULL