BERLIN, Aug 16 (Reuters) - German Chancellor Angela Merkel said after speaking with French President Francois Hollande by phone on Friday that Germany would review its ties with Egypt, and both she and Hollande felt the European Union should do the same.

A statement released by Merkel's office said, "the chancellor explained that in view of the latest developments, the German government would review its relations with Egypt."

"She agreed with the (French) President that the European Union should also undertake a comprehensive review of its relations with Egypt," the statement said.

The leaders spoke two days after an assault by security forces on Muslim Brotherhood protesters that killed hundreds. (Reporting by Alexandra Hudson; Editing by Michelle Martin)